Triple threat: the three reasons your tech employees leave
Employees, no matter how valuable, are always going to leave their jobs; it’s inevitable. From relocating to having a complete career change, as an employer, you’ll never be able to completely stop employees from leaving. But what if you could dramatically reduce employee turnover? What if you knew the reasons employees decide to leave? Good news. Our latest report explores employee retention, uncovering the top three reasons tech employees leave their companies.
The interesting part? The top three reasons for tech talent leaving their jobs are all factors employers can directly impact, so improving your employee retention may not be as difficult as you think. Here’s the three most common reasons tech talent decide to leave their roles:
Culture and management style
We surveyed over 180 tech professionals who had just left their roles and asked what their key motivations for leaving were. 80% blamed poor culture and management style as their main motivation for leaving.
Within culture, 81% of those surveyed said that team and colleague dynamic is most important to them. In relation to management style, 79% said the management style of their director is key, and 80% agreed that their manager has a significant impact on their level of happiness.
In addition, individuals who say there’s a low level of respect among colleagues in their office are 26% more likely to quit their job than those who operate in a culture of mutual respect. Adopting a management style that works for your employees and creating a strong culture based on key values is crucial in retaining your top talent and keeping employees happy at work.
Career development and progression
Our research revealed that a lack of career development and progression was the second most common reason for tech employees to leave their roles, with 77% of tech professionals listing it as their main reason for leaving. Within this category, it was also recognised that the two most important factors of career development and progression were having a personal development plan with clear targets and regular feedback and training.
According to one article, only 29% of those in employment are ‘very satisfied’ with the career advancement opportunities available at their company. Career development is essential for keeping employees motivated and engaged at work, so it’s no wonder that a lack of it is one of their main reasons for leaving roles. Improving your training and development practices as well as offering sufficient progression opportunities will help with your talent retention, employee engagement and productivity as well as strengthening the succession pipeline.
Salary and rewards package
When deciding to leave a role, salary and rewards package was noted as the third most important consideration. 66% of tech professionals admitted that dissatisfaction with their rewards package was a key reason for leaving their previous company. Within this, the three most important factors were basic salary, holiday allowance and other non-financial benefits.
Understanding why top talent leave is key. Once you know the reasons behind their decisions, you’re much more equipped to deal with the issues before they arise. For practical advice and take away solutions to your retention problems, check out our Retention Report.